Latest news with #pubsale
Daily Telegraph
28-05-2025
- Business
- Daily Telegraph
Byron Bay's Beach Hotel sold for $140m
The famous Beach Hotel at Byron Bay has traded hands for $140m, the second most expensive Aussie pub ever sold. 'The Beachie' has been bought by Scott Didier, Group CEO of construction firm Johns Lyng Group. The $140m price tag is the second highest price paid for a pub in Australia, behind The Crossroads Hotel in Casula in Sydney's southwest which changed hands for $160m in 2022. MORE: Bizarre feature of Hemsworth's $50m Byron Bay home MA Financial Group's Redcape Hospitality confirmed the sale late Wednesday. 'The Beach Hotel is a special place, and the team has thoroughly enjoyed being a part of its history' said Chris Unger, Managing Director, Redcape Hospitality. 'The sale not only delivers a strong result but also marks an exciting new chapter for the Beach Hotel and we are sure it will continue to thrive as a beloved part of the Byron Bay landscape under the guidance of the Didier family.' The sale was brokered by John Musca of JLL. The sale of The Beach Hotel has come amid increased new competition for drinking holes across NSW. Originally a family pub run by Sale of the Century hostess Delvene Delaney and her producer husband – and best mate to Paul Hogan, John 'Strop' Cornell – The Beach Hotel in Byron was the first Aussie pub to sell for $100m, when it last traded in 2019. RELATED: How family business became billion dollar pub empire Records then revealed that global investment firm MA Financial Group had entered into an exclusivity agreement to purchase the 4585sq m property that Delaney and Cornell, who produced and co-wrote the international blockbuster Crocodile Dundee, spent about $9 million building up in the 1990s. The pub has since been managed by Redcape. At the time of the 2019 sale, Dan Brady, CEO of MA Financial Group, described the almost waterfront hotel as an 'iconic Australian establishment located on irreplaceable real estate.' MORE: Kmart set to change everything in Temu war 'The acquisition of both freehold and operating interests will enable the required capital investment to further enhance what has made the hotel iconic – that is, a great community gathering place with a fun, sociable, friendly and safe hospitality offering delivered by an engage and passionate team of local hospitality professionals,' Mr Brady. said. The Oaks Hotel in Neutral Bay on Sydney's North Shore was believed to have been sold for $175m in 2022, before the sale fell through and long-time owners The Thomas family decided to keep running it. Former Sydney Lord Mayor Nelson Meers and his family were revealed as the buyers who paid top dollar for The Crossroads. MORE: Price of car spot proves Australia has lost it
News.com.au
28-05-2025
- Business
- News.com.au
Byron Bay's Beach Hotel ‘sold for $140m'
The famous Beach Hotel at Byron Bay has traded hands for $140m, according to reports, which would make it the second most expensive Aussie pub ever sold. The massive sale went through late Wednesday, according to Green Street News. If the $140m price tag is confirmed, it would it make the second highest price paid for a pub in Australia, behind The Crossroads Hotel in Casula in Sydney's southwest which changed hands for $160m in 2022. MORE: Bizarre feature of Hemsworth's $50m Byron Bay home The Beach Hotel sits in the heart of Byron Bay. Former Sydney Lord Mayor Nelson Meers and his family were revealed as the buyers who paid top dollar for The Crossroads The new buyer of the Beach Hotel, which sits right in the heart of the township of Byron Bay on Main Beach, is yet to be confirmed. However pub barons Arthur Laundy and Justin Hemmes are sure to mentioned as possibilities given their impressive and ever expanding empires, amid increased new competition for drinking holes across NSW. Originally a family pub run by Sale of the Century hostess Delvene Delaney and her producer husband – and best mate to Paul Hogan, John 'Strop' Cornell – The Beach Hotel in Byron was the first Aussie pub to sell for $100m, when it last traded in 2019. RELATED: How family business became billion dollar pub empire The huge pub last traded for $100m in 2019. John 'Strop' Cornell, Paul Hogan and Delvene Delaney. Records then revealed that global investment group Moelis had entered into an exclusivity agreement to purchase the 4585sq m property that Delaney and Cornell, who produced and co-wrote the international blockbuster Crocodile Dundee, spent about $9 million building up in the 1990s. The pub has since been managed by ASX-listed company, Moelis Australia Hotel Management. At the time of the sale, Dan Brady, CEO of Moelis Australia Hotel Management described the almost waterfront hotel as an 'iconic Australian establishment located on irreplaceable real estate.' MORE: Kmart set to change everything in Temu war Casula's The Crossroads Hotel holds the record Aussie pub sale of $160m. 'The acquisition of both freehold and operating interests will enable the required capital investment to further enhance what has made the hotel iconic – that is, a great community gathering place with a fun, sociable, friendly and safe hospitality offering delivered by an engage and passionate team of local hospitality professionals,' Mr Brady. The Oaks Hotel in Neutral Bay on Sydney's North Shore was believed to have been sold for $175m in 2022, before the sale fell through and long-time owners The Thomas family decided to keep running it. The $175m sale of The Oaks Hotel on Sydney's North Shore fell through. Picture: Supplied MORE: Price of car spot proves Australia has lost it : Originally published as Byron Bay's Beach Hotel 'sold for $140m'
Yahoo
17-05-2025
- Business
- Yahoo
Customers 'gutted' as owners of popular pub named one of UK's best set to walk away
One of Monmouthshire's most popular pubs is up for sale — sparking a wave of sadness from loyal customers. The people behind The Black Bear, known for its acclaimed food and warm welcome, have announced plans to sell the business, citing a desire for a lifestyle change to better suit the owners' young family. The announcement came as a shock to many in the local community and further afield, given the pub's soaring success and reputation. Run by husband-and-wife team, Josh and Hannah Byrne, since 2018, the cosy village inn has quietly become one of the very best in Wales. With head chef Chris Halbert in the kitchen, the couple have steered The Black Bear to the top of the country's dining scene, collecting a string of prestigious awards along the way. READ MORE: 'Oakwood wasn't just a theme park — it was a rite of passage and I plan to re-open it' READ MORE: Hotel to re-open after four years as temporary accommodation That growing acclaim reached new heights earlier this year, when the pub made headlines for being ranked 24th in the 2025 Estrella Damm Top 50 Gastropubs; an achievement that also made it the only Welsh pub on the coveted list. This isn't the first time The Black Bear has gained national recognition. In fact, the 2025 Estrella Damm ranking marks its fourth consecutive appearance on the prestigious Top 50 list. Since 2022, the pub has also earned a place in the Michelin Guide, while receiving a score of six in the Good Food Guide, further cementing its reputation as a standout destination for serious food lovers. Despite the sad news, the team have reassured customers that nothing is changing just yet. In a statement shared on social media, the owners stressed they were "not selling in a hurry" and expected the sale process to take at least a year, if not longer. "Seven years of support from our fantastic customers, along with a lot of hard work from us and our team, has created a healthy business," they wrote. "Until our very last day trading — whenever that may be — it will be normal service at The Black Bear." The post emphasised the pride the team took in what they'd built and their commitment to maintaining standards throughout the transition. "Notwithstanding the financial imperative to do so, we all take an enormous amount of pride in what we do and would never operate in any other way." Following the announcement, an automated email confirmed the pub was taking a short break but would re-open for business on Wednesday, May 21. View this post on Instagram A post shared by The Black Bear Inn (@theblackbearusk) The news has been met with an emotional response from customers, many of whom have followed the pub's journey since it opened. From superstar gigs to cosy pubs, find out What's On in Wales by signing up to our newsletter here One regular wrote: "It was such a breath of fresh air when you guys opened. A high sigh of relief that Monmouthshire had somewhere decent to eat with a clear vision and ethos. I hope we aren't losing your culinary skills and hospitality forever. Will be sure to come by before you close. You'll be missed." Another added: "Gutted to hear this. Where to go for date night now?! Best food by miles – but so important to do what's right for you guys. You, your food, ethos and ambience will be hugely missed xx.' A third disappointed patron said: "We have loved your food, service and welcome. It coincided with our move here and you will be very much missed when you move on – but we wish you the very, very best for whatever comes next for you!'
